B.Riley FBR analyst Eric Wold reiterated a Buy rating on EVINE Live (NASDAQ: EVLV) today and set a price target of $1.75. The company’s shares closed yesterday at $1.15.
Wold observed:
“We are revisiting EVINE Live (EVLV) to analyze potential valuation scenarios as both an ongoing entity during its continued operational turnaround as well as an acquisition candidate for its established household reach and distribution platform. Over the past two years, we believe management has made positive strides to reshape the company’s operations away from non- competitive, non-core, low-margin products that added no long-term value and attracted a “one-and-done” customer base. However, with EVLV shares down ~40% over that period (vs. a gain of ~35% for the S&P 500), we believe investors are overlooking both the potential for continued EBITDA increases in the coming years as well as the potential for EVLV to be acquired around the value of its distribution platform.”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 12.7% and a 62.4% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, National Cinemedia, and AMC Entertainment.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for EVINE Live with a $1.75 average price target.
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The company has a one-year high of $1.74 and a one-year low of $0.76. Currently, EVINE Live has an average volume of 282.1K.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EVLV in relation to earlier this year.
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EVINE Live, Inc. is a multichannel electronic retailer that markets, sells and distributes products to consumers through TV, online, mobile and social media. The company’s primary product, a television shopping network, ShopNBC, which is distributed primarily through cable and satellite affiliation agreements, and markets brand name and private label products in the categories of jewelry and watches; home and electronics; beauty, health and fitness; and fashion and accessories. It also operates ShopNBC.com, an e-commerce platform that sells products appearing on its television shopping channel, as well as an extended assortment of online-only merchandise. The company’s programming and products are also marketed through mobile devices, including smartphones and tablets, such as the iPad, and through the social media channels. The company was founded on June 25, 1990 and is headquartered in Eden Prairie, MN.
